The December quarter capex outlook has been released and is nothing short of full blown recessionary.
Estimate 5 for total capital expenditure in 2015-16 is $123,956m. This is 17.8% lower than Estimate 5 for 2014-15. The main contributor to this decrease is Mining (-29.7%). Estimate 5 is 0.6% lower than Estimate 4 for 2015-16. The main contributor to this decrease is Mining (-5.6%).
Estimate 1 for total capital expenditure for 2016-17 is $82,572m. This is 19.5% lower than Estimate 1 for 2015-16. The main contributor to the decrease was Mining (-36.2%).
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David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
